Savings Vocab Test

A popular savings rule of thumb in which 50% of your income goes towards necessities, 20% goes towards saving and debt repayment, and 30% goes towards flexible spending

Reinvesting earned interest back into the principal to allow money to grow exponentially over time

Inflation caused by an increase in production costs, but demand is the same

Inflation caused by an increase in demand, but supply is the same

Money set aside for unanticipated expenses or loss of income

An account in which you can save pre-tax dollars to pay for out-of-pocket health care expenses

The buying of goods without planning to do so in advance, as a result of a sudden whim or urge

The rate at which the price of goods increases and consumer purchasing power decreases over time

A fee paid to you for keeping your money in an account OR a fee charged to you for a loan or credit card

Inflation caused by growth in the economy's money supply